McColl's Retail Group is to offload around 100 non-core newsagent outlets.

The Essex-based group, which is in the process of building its convenience store presence, said it has hired property agents Christie + Co to handle the sale.

The 100 stores earmarked for sale make up around a fifth of the group's newsagent portfolio.

McColl's Retail Group has not said if any jobs are at risk.

Group accounts for the 2014 year to November 30 state the group operates 799 McColl's convenience stores and 516 newsagents, branded Martin's and in Scotland, RS McColl.

McColl's Retail Group said proceeds from the sale will be used to convert its more profitable outlets to convenience store format “where appropriate”.

Chief executive James Lancaster said: “As we continue to grow our convenience store estate we constantly review our wider store portfolio, and from this we have identified 100 newsagents which no longer align to our strategic objectives.

“The sale of these stores will generate funds which will allow us to invest further in profitable convenience stores.”